Radley sales and profits rise as it celebrates 20th birthday
Affordable luxury accessories brand Radley achieved a strong increase in both sales and profits as the London-based business celebrates its 20th birthday.
In the 12 months to the end of April 2018, the business achieved a 17% increase in sales with underying earnings up from £3.9m to £6.3m, defying tough market trends.
The Sunday Times reported that Radley’s sales had also risen by 15.6% over the past six months, aided by its expansion in the US. Less than a year after launch, the US market already accounts for 11% of total sales.
Last autumn Radley announced a landmark deal with US department store Macy's and said it planned to open in 100 of its stores before Christmas 2017. At the same time it revealed it had begun selling on TV shopping channel QVC.
In the UK Radley has 32 stores and is also sold in John Lewis, House of Fraser, other department stores and independent retailers, as well as via its website. It declined to divulge what effect the collapse of House of Fraser had had on its business.
The business was founded by Lowell Harder in 1998, and in 2016 it was bought by private equity house Bregal Freshstream. As part of its 20th birthday celebrations the brand recently unveiled a new Radley Spirit marketing campaign and appointed Poldark actress Eleanor Tomlinson as brand ambassador.